A US-based agreement with a window-shop on Italy. The Ermenegildo Zegna group signed a licensing contract for Tom Ford, the brand that just recently went into the hands of Estée Lauder Companies. It will be up to the Italian group, owner of Zegna and Thom Browne, to develop and grow the fashion business of the brand founded by the ex-creative director of Gucci. Made in Italy will remain at the base of the development of Tom Ford, and not by chance the license for Tom Ford Eyewear with Marcolin was confirmed and will be extended.
Tom Ford entrusts its fashion business to Zegna
The official announcement was made. Estée Lauder Companies took ownership of the brand Tom Ford, valuing it at 2.8 billion USD. The brand’s founder and current CEO, Tom Ford, will continue to cover the role of creative director until the end of next year. Domenico De Sole, president of Tom Ford International will stay on as consultant until the end of 2023 as well. As part of this transition, within the first 6 months of 2023, Zegna Group will acquire the luxury brand’s fashion business activities. Simply put, it will manage the men’s and women’s collections entirely, as well as accessories, underclothes, high-end jewelry, childrenswear, textiles and other home designs products. The ambition of Zegna Group is that of positioning Tom Ford among the most respected and successful luxury groups, by leveraging the group platform.
Shareholders and friends
“Tom Ford is one of the most iconic and distinctive high-luxury brands in the world and this next step we take together is perfectly aligned with out strategy. We have been partners and shareholders of Tom Ford’s fashion business from the start. I worked with Tom for many years and consider him a valued friend”, says Gildo Zegna, CEO of Ermenegildo Zegna Group.
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